The European Union has agreed on the broad terms of Britain’s two-year transition deal after leaving the bloc in March 2019, according to an EU official familiar with the discussions, but Ireland remains “an issue.”

The pound jumped to its highest level in more than a month on Monday after the EU's and the U.K.'s Brexit negotiators, Michel Barnier and David Davis, confirmed they've reached a transition deal. Sterling rose to an intraday high of $1.4089, marking...

The pound jumped back above $1.40 on Monday after reports the European Union agreed on the broad terms of a two-year transition period for the U.K. when Brexit kicks in next year. The Wall Street Journal reported that EU diplomats dealing with Brexit...